I'm asking for a project of mine, so if you can try to avoid vague ideas and things people already commented and try to go in-depth as much as you can.
If you could make changes to "fix" the economy, what would they be?
byu/Cinnamon_Sugar5261 ineconomy
Posted by Cinnamon_Sugar5261
20 Comments
Tax the billionaires.
Stop corporate monopolization.
Get rid of the minimum wage. Re-educate the population on economics. They need to understand why socialism is a horrible idea and why it has caused misery pretty much everywhere. Why it doesn’t even work in Europe with their socialist-lite policies.
remove T and T, trump and tariffs
Remove the cap for social security taxes to make it solvent.
I think there needs to be a tax on every stock transaction and every bond transaction. Just a small one but it would raise a shit ton of money.
Nice try Mike Johnson
Increase the reserve requirement (currently at 0%). Yes, I know there are capital and liquidity requirements but no limitations on fractional reserve is insane to me.
The economy isn’t broken. The economy is fine. Goods and services are being exchanged for currency at ever increasing rates. Companies are at record valuations, shareholders ecstatic, bankers banking, the people with money are spending with reckless abandon.
We are not fine. The people who do the work are not fine. The people who did the work are not fine. The families who supported their work are not fine. But the economy? The economy is fine. The economy has moved on. It doesn’t need us any more.
Stop using the Fed’s printing press as a substitute to managing the fiscal budget.
I think we all thinking the same thing
Trust busting and monopoly busting. Fair prices in a free market economy depend on competition. Virtually all food in the country is made by half a dozen megacorporations.
How many actual grocery store chains are there now? Where I live it’s Walmart, Reasor’s and Aldi. Sorry, Whole Foods. In Texas it was Walmart and HEB. Sorry, Whole Foods and Sprouts. There’s no actual choice. Prices for anything available on Amazon are set everywhere by Amazon, which enforces a rule that nobody can sell anything cheaper than the Amazon price. Also, if they want to be on the first page of search results they have to pay 40% for “advertising.”
If you’re at work, you run Windows and your email client is Outlook, because it works great and integrates seamlessly with Office 365, which you also have. Maybe- MAYBE- you use Google Office. But you’re probably not opening Thunderbird on your Ubuntu machine.
And it’s all- all of it- hosted by AWS.
Break them up. Tax them. Corporations used to spend money on R&D, dividends and bonuses as a way to avoid income taxes. (Yeah those things are all tax deductible.)
All public utilities should be publicly owned, so that rates reflect the costs of production, not maximizing shareholder value.
All citizens (of the US, can’t speak for the economy of other countries) should have a guaranteed universal basic income equal to the prevailing federal minimum wage.
Healthcare should be available to everyone, again using Medicare as a model, so that basic needs and basic preventative care is in place.
If regular, everyday people have food, shelter, and a minimum of physical care, a lot of the problems in the economy would fix themselves.
I would eliminate the ability to borrow against your assets. I think that would solve the rich avoiding taxes.
Raise taxes on the ultra wealthy and balance the budget. Clinton had us on pace to pay off the deficit doing just that. It would move money back down to the middle class. We did this coming out of the great depression with great success.
The public would own the means of production. Democratically. More economic measures would capture well being and the environment.
1. Land value tax.
2. Get money out of politics.
3. Make all education free.
I cannot post images here, so see this explanation of mine about how macroeconomy works (this is how central banks balance and stabilize the economy).
[https://www.reddit.com/r/EducatedInvesting/comments/1qbtz9s/comment/nzdy4s6/?context=3](https://www.reddit.com/r/EducatedInvesting/comments/1qbtz9s/comment/nzdy4s6/?context=3)
First thing that needs to be done is to increase trade deficit to export more inflation. Buy more from China. China loves to export deflation.
Second, increase interest rates to contain inflation.
Third, cut all military spending and foreign aid overseas. The concept of defense is about defending borders, not military adventurism. Use money to build domestic infrastructure and to re-industrialize USA.
Fourth, normalize diplomacy with other nations. Provide signals that look like good will in the eyes of other nations. That requires these armchair scholars to abandon their basements and actually go places to learn about real world instead of spreading cliches about other nations.
First you have to define for who the “economy” should be good.
For the super rich billionaires&oligarchs a good economy is where they control everything (control most of the wealth) and everyone else is starving and poor, selling their bodies and labor for peanuts.
I think the bottom 99.9% would agree that thats a bad economy.
If you want economy that works for everyone (and has actually the highest growth) you need to increase velocity of money, which basically means how fast money is exchanged. The higher the velocity the more efficient and stronger economy is for everyone.
Now convincing the oligarchs to get rid of extreme inequality to achieve high velocity of money is another topic.
Tape Trump’s mouth shut for 6 month’ year.